Bravura bids to acquire GBST

Company News

by Katrina Bullock

Financial software solutions provider, Bravura Solutions (ASX:BVS) has made a bid to acquire GBST Holdings (ASX:GBT).

Bravura Solutions has submitted a nonbinding indicative proposal to acquire all of the shares in GBST Holdings by way of a scheme of arrangement.

It is offering a cash payment of $2.50 per GBST share.

This is a 30.4 per cent premium on the 30 trading day volume-weighted average price.

Shares in Bravura Solutions (ASX:BVS) last traded at $5.25.